One-Story Neighborhood
For Sale
$289,000
7716 W Belmont Avenue, Chicago, IL 60634
Open commercial layout with an ADA bathroom, office, storage room, and multiple parking options.
Property Size1,725 SF
Price / SF$167.54
Days on Market37
Property Features for 7716 W Belmont Avenue
General Information
Standard status
Active
Size
1,725 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
RTAIL
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$10,949
Amenities
ADA bathroom
office
storage room
200 amp breaker box
Building Details
Building Size
1,725 SF
Year Built
1960
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
USA Real Estate Ltd.
(847) 640-6800
Listed By:
Joe Zivoli · License #471001855
(847) 640-6800
Source:
Perillorealestategroup
Added: Jul 13
Changed: Aug 16
Last Checked: Aug 17 at 11:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of USA Real Estate Ltd.
Investment Insights
Based on property information with market context.
This one-story storefront property provides approximately 1,725 square feet within a 23-foot by 75-foot interior footprint. The open floor plan includes an ADA bathroom, office, and storage room. Building systems include a furnace approximately 5 years old, central air installed 5 years ago, and a roof approximately 10 years old. Electrical service is supported by a 200-amp breaker box, and the property was built in 1960.
The building is positioned just off the corner of W Belmont Avenue and Overhill Avenue in Chicago. Parking includes street spaces and two designated spaces behind the building. The premises are currently occupied by Societa Maria SS Addolorata Mola di Bari members. The property information identifies potential applications including retail, office, medical, restaurant, and private-user occupancy.
The building is positioned just off the corner of W Belmont Avenue and Overhill Avenue in Chicago. Parking includes street spaces and two designated spaces behind the building. The premises are currently occupied by Societa Maria SS Addolorata Mola di Bari members. The property information identifies potential applications including retail, office, medical, restaurant, and private-user occupancy.
Key Highlights
- Approximately 1,725 Sqft one‑story storefront
- Open floor plan with ADA bathroom, office, and storage room
- 23Ft. x 75Ft. interior dimensions
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,943
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$478,860
$478.9K
Cap Rate 7%
$342,043
$342.0K
Cap Rate 9%
$266,033
$266.0K
Market Conditions
NOI Build-Up for 1,725 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.3K $21.60/SF
− Vacancy
−$3.1K −$1.77/SF
EGI
$34.2K $19.83/SF
− OpEx
−$10.3K −$5.95/SF
NOI
$23.9K $13.88/SF
Area
ZIP 60634
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$478,860
Cap Rate 7%
$342,043
Cap Rate 9%
$266,033
Alternative Uses
Best Use
Retail
$342.0K
$299.3K – $399.1K
NOI $23,943 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.4K
$411.6K – $548.8K
NOI $32,926 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60634, IL
75,694
Population
29,344
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
10,661
Density / Sq Mi
$84,997
Median Household Income
$46,694
Median Earnings
$1,271
Median Rent
$333,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Open commercial layout with an ADA bathroom, office, storage room, and multiple parking options.
Where is this storefront property located?
The property is located at 7716 W Belmont Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Approximately 1,725 Sqft one‑story storefront; Open floor plan with ADA bathroom, office, and storage room; 23Ft. x 75Ft. interior dimensions
